ACCORDING TO ALI BONGO, THE PALM OIL PLANT OF MOUILA WILL PRODUCE AS MUCH REVENUE FOR GABON AS PETROLEUM. D’APRÈS ALI BONGO, L’USINE D’HUILE DE PALME DE MOUILA PRODUIRA AUTANT DE REVENUS POUR LE GABON QUE LE PÉTROLE

Dear readers, this is written on the front page of the propaganda newspaper of the Gabonese regime L'Union: the revenues that the Olam factory in Mouila will produce, will overshadow the revenues derived from Gabonese oil.

Here is an analysis that seems to have been made by the same people who think that to know the economic health of a country; one has to just ask their friends business owners if their products are selling, regardless of other parameters.

Dear readers, serious people look coldly at the numbers we make an estimate: what do the numbers tell us?

• The regime's propaganda tells us that the Olam plant in Mouila would have a production capacity of 138700 tons of palm oil per year.

• The price of palm oil on world markets is € 598.6 per ton (source: the Financial Times, April 11, 2017), or about CFAF 399000 per ton.

• Consequently this plant will generate according to the propaganda of the regime: 399000 x 138700 = 55.3 billion CFA francs per year.

• Even today, Gabon still produces about 219,000 barrels of oil per day.

• The price of the barrel is 53.6 dollars (source the Financial Times of April 11, 2017), or 26800 CFA francs per barrel.

• According to a study published by our compatriot Mays-Mouissi, the oil royalties paid to the Gabonese State for the year 2015 amounted to 526.44 billion CFA francs.

Dear readers, how can a factory with a maximum income of 55 billion CFA francs, of which only 20 to 30% may go to the Gabonese State (the contracts between the State and Olam are secret, remember that); which is to say between 11 and 17 billion a year, could compete and replace the revenues of the petroleum industry which are of the order of 500 billion CFA francs a year?

Comments

Also please remember that the oil trading will be done from Singapore - while the only money that Olam Gabon will get is the money to run the factory.The profit loss will be done from Singapore and most probably the profit be stifled to show low or no profit and from the profit the Govt. will get the 20% -----which will most probably be nothing at all

55BIllion FCFA is approximately 150Million USD per year ---- the cost of production will be in the region 80% or around 120Million USD, profit approx 30MillionUSD. Govt share per year around 6 Million to 10Million USD. That what ABO spends in a week maybe on his personal expenses :)

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